Bohol earthquake strongest to hit Visayas

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earthquakeBohol earthquake strongest to hit Visayas and Mindanao in over 20 years

MANILA, Philippines - The energy released by the magnitude -7.2 earthquake that rocked the Visayas and Mindanao Tuesday morning was equivalent “32 Hiroshima bombs,” the country’s top seismologist said. Director Renato Solidum of the Philippine Institute of Volcanology and Seismology (Phivolcs) told the Philippine Daily Inquirer that the earthquake was the strongest felt in the Visayas and Mindanao in 23 years. Solidum said that the movement of

Philippines OK with Obama cancellation

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Obama visit the PhilippinesThe Philippine governments said Wednesday that they understood President Barack Obama’s decision to cancel upcoming visits to their countries. The White House announced earlier in the day that Obama was calling off stops in Malaysia and the Philippines on his long-planned trip to Asia because of the partial government shutdown.

BSP seeks add’l P150-B capital

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Bangko Sentral ng PilipinasMANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) is asking for an additional capital of P150 billion to better perform its functions in promoting monetary and price stability. The additional capital, payable in three years until 2017, is under the BSP’s proposed amendments to its charter, central bank deputy governor Vicente S. Aquino told a forum on Saturday. “The scale and complexity of the responsibilities of the BSP have been magnified by the growth of the Philippine economy and the expansion of its financial system,